Thursday, April 23, 2009
Hearty congratulations go to reader DVP, the first to crack the secret identity of "Dick": AIG. Special mention must also go to reader EC, who twigged the exact formula behind Dick: AIG's share price squared, times 1000.
Now, it is said that a rising tide lifts all boats, but it is difficult to believe that the good ship AIG belongs anywhere but the bottom of the sea. Perpetrator of the worst corporate loss in the history of the known universe, AIG should count itself lucky to still have a publicly listed share price, let alone to see it soar (in percentage terms) as it has done.
That it has done so suggests to Macro Man that for all the talk of green shoots and cutting off the far left of the distribution, the recent equity rally has been pretty indiscriminate. Colour him unimpressed.
In any event, the pain in his knee is a welcome change from banging his head against the market every day. And hey, at least they prescribe potent painkillers for post-operative knees, which have left your author with a virtually non-stop desire to sleep. It's funny, when he dozed off yesterday, he could swear that he dreamt that Alistair Darling jacked up taxes even as Parliament voted to pay itself an extra £150 per member per day just to show up to work.
Man, this Codeine does some crazy things with your mind.....